Common use of METHOD OF COMPLIANCE Clause in Contracts

METHOD OF COMPLIANCE. The Plan will satisfy the top heavy minimum allocation in accordance with this Section 3.02(B)(2). The Advisory Committee first will allocate the Employer contributions (and Participant forfeitures, if any) for the Plan Year in accordance with the allocation formula under Section 3.02(A). DST then will contribute an additional amount for the Account of any Participant in the Plan who is entitled under this Section 3.02(B) to a top heavy minimum allocation and whose contribution rate for the Plan Year is less than the top heavy minimum allocation. The additional amount is the amount necessary to increase the Participant's contribution rate to the top heavy minimum allocation. The Advisory Committee will allocate the additional contribution to the Account of the Participant on whose behalf DST makes the contribution.

Appears in 2 contracts

Samples: The Employee Stock Ownership Plan and Trust Agreement (DST Systems Inc), The Employee Stock Ownership Plan and Trust Agreement (DST Systems Inc)

AutoNDA by SimpleDocs

METHOD OF COMPLIANCE. The Plan will satisfy the top heavy minimum allocation in accordance with this Section 3.02(B)(23.04(B)(2). The Advisory Committee first will allocate the Employer contributions (and Participant forfeitures, if any) for the Plan Year in accordance with the allocation formula under Section 3.02(A3.04(A). DST The Employer then will contribute an additional amount for the Account of any Participant in the Plan who is entitled under this Section 3.02(B3.04(B) to a top heavy minimum allocation and whose contribution rate for the Plan Year is less than the top heavy minimum allocation. The additional amount is the amount necessary to increase the Participant's contribution rate to the top heavy minimum allocation. The Advisory Committee will allocate the additional contribution to the Account of the Participant on whose behalf DST the Employer makes the contribution.

Appears in 1 contract

Samples: Plan and Trust Agreement (DST Systems Inc)

METHOD OF COMPLIANCE. The Plan will satisfy the top heavy minimum allocation in accordance with this Section 3.02(B)(23.4(B)(2). The Advisory Committee first will allocate the Employer contributions (and Participant forfeitures, if any) for the Plan Year in accordance with the allocation formula under Section 3.02(A3.4(A). DST The Employer then will contribute an additional amount for the Account of any Participant in the Plan who is entitled under this Section 3.02(B3.4(B) to a top heavy minimum allocation and whose contribution rate for the Plan Year is less than the top heavy minimum allocation. The additional amount is the amount necessary to increase the Participant's contribution rate to the top heavy minimum allocation. The Advisory Committee will allocate the additional contribution to the Account of the Participant on whose behalf DST the Employer makes the contribution.

Appears in 1 contract

Samples: Employee Stock Ownership Plan And (Edwards J D & Co)

AutoNDA by SimpleDocs

METHOD OF COMPLIANCE. The Plan will satisfy the top heavy minimum allocation in accordance with this Section 3.02(B)(23.04(B)(2). The Advisory Committee first will allocate the Employer contributions (and Participant forfeitures, if any) for the Plan Year in accordance with the allocation formula under Section 3.02(A3.04(A). DST The Employer then will contribute an additional amount for the Account of any Participant in the Plan who is entitled under this Section 3.02(B304(B) to a top heavy minimum allocation and whose contribution rate for the Plan Year is less than the top heavy minimum allocation. The additional amount is the amount necessary to increase the Participant's contribution rate to the top heavy minimum allocation. The Advisory Committee will allocate the additional contribution to the Account of the Participant on whose behalf DST the Employer makes the contribution.

Appears in 1 contract

Samples: Liberty Bancshares Inc /Mo

Time is Money Join Law Insider Premium to draft better contracts faster.